GRATUITY

Meaning of Gratuity :- A lum-sum amount paid by employer to the employee after retirement is called Gratuity. 

House Rent Allowance u/s 10(13A) with Rule 2A

Minimum of the following would be exempt u/s 10(13A) with Rule 2A :-

(1) House Rent Allowance Actually Received
(2) Rent paid - 10% of salary
(3) 40% or  50% of salary(50% for Mumbai, Kolkata, Delhi, Chennai. and 40% for others)

NOTE - Salary for this purpose:-
              Basic Salary + Dearness Allowance(term of employment for retirement benefits) + commission on turnover.  

DIT

Income Tax replaces by DIRECT TAX OF INDIA

INDIVIDUAL SLAB RATE IN INDIA

SLAB RATE FOR INDIVIDUAL below the age of 60 years... (A.Y 2011-12)

unto Rs 1,80,000                                NIL  
Rs. 1,80,001 to Rs. 2,50,000           @ 10%
Rs. 2,50,001 to Rs. 5,00,000           @ 20%
Rs. 5,00,001 or above                    @ 30%



SLAB RATE FOR INDIVIDUAL below the age of 60 years... (A.Y 2013-14)

unto Rs 2,00,000                                NIL  
Rs. 2,00,001 to Rs. 5,00,000             @ 10%
Rs. 5,00,001 to Rs. 10,00,000           @ 20%
Rs. 10,00,001 or above                    @ 30%

TRP means TAX RETURN PREPARER. TRPs are tha certified person by the Income Tax Department for filing the Income Tax Return for individual and HUF (Hindu undivided family) taxpayers.